Prime Capital Investment Advisors LLC Has $230,000 Stock Holdings in State Street Co. (NYSE:STT)

Prime Capital Investment Advisors LLC lessened its holdings in State Street Co. (NYSE:STT) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,596 shares of the asset manager’s stock after selling 247 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in State Street were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. LRI Investments LLC purchased a new stake in shares of State Street during the first quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of State Street during the second quarter worth $27,000. Versant Capital Management Inc raised its holdings in shares of State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of State Street by 44.4% during the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after acquiring an additional 200 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of State Street during the third quarter worth $54,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

State Street Stock Performance

Shares of NYSE STT opened at $95.48 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $90.00 and its two-hundred day moving average is $82.26. The company has a market cap of $27.99 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 1.46. State Street Co. has a 12 month low of $68.92 and a 12 month high of $98.45.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. State Street’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 earnings per share. On average, equities analysts expect that State Street Co. will post 8.42 EPS for the current year.

Wall Street Analysts Forecast Growth

STT has been the subject of a number of analyst reports. Evercore ISI boosted their price target on State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on State Street from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price objective on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup raised their price objective on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company raised their price objective on State Street from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.11.

Insider Activity

In related news, EVP John Plansky sold 13,859 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the sale, the executive vice president now owns 55,108 shares of the company’s stock, valued at $5,032,462.56. The trade was a 20.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is currently owned by company insiders.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.